Current employees will have to pay an increasing amount into the fund. Within two years, 5 percent of an employee’s salary will go toward retirement. Faculty and staff have accepted relatively lower salaries for years in anticipation of secure retirement benefits. Several years without a cost of living increase has tightened wallets across the board. That’s a problem, said Shane White, chair of the UCLA Faculty Welfare Committee. "Of this time, university leadership understands that salaries lag, but no realistic plan has been proposed," White said.

Read full article [here].
by Devin Kelly, The Daily Bruin.

Posted: January 4th, 2011, by: admin. Categories: . Awaiting Comments.